Vanguard Group Inc. Sells 80,927 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Vanguard Group Inc. lowered its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,931,469 shares of the company’s stock after selling 80,927 shares during the period. Vanguard Group Inc. owned approximately 9.91% of Inspire Medical Systems worth $596,349,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $27,000. Headinvest LLC bought a new stake in shares of Inspire Medical Systems during the third quarter valued at approximately $48,000. Principal Securities Inc. bought a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $54,000. International Assets Investment Management LLC bought a new stake in Inspire Medical Systems in the 4th quarter worth approximately $166,000. Finally, Great Lakes Advisors LLC bought a new stake in Inspire Medical Systems in the 4th quarter worth approximately $201,000. Institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on INSP. Mizuho reaffirmed a “buy” rating and issued a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They issued an “outperform” rating and a $285.00 target price for the company. Morgan Stanley began coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price for the company. Piper Sandler lifted their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.20.

Insiders Place Their Bets

In other news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total value of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now directly owns 63,658 shares in the company, valued at approximately $13,055,619.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now owns 28,271 shares in the company, valued at $6,503,178.13. The disclosure for this sale can be found here. Insiders have sold a total of 55,032 shares of company stock worth $11,660,898 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Stock Performance

INSP opened at $135.74 on Tuesday. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -246.80 and a beta of 1.33. Inspire Medical Systems, Inc. has a fifty-two week low of $123.27 and a fifty-two week high of $330.00. The firm’s fifty day moving average is $184.83 and its 200 day moving average is $193.55.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.53) EPS. On average, equities research analysts predict that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current year.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.